Over the last few decades, the nature of the financial services has significantly changed. Back in the 1980s, the on-boarding process for a new advisor involved a brief training, being assigned a desk and then being told to start bringing in new clients. Under this type of environment, financial advisors were expected to do just about everything on their own. From investments to insurance, advisors generally operated with their clients in a type of vacuum.
Across the industry, financial advisors for wealthy clients face a very prevalent problem. In 90% of situations, when an advisor’s client dies and their estate is passed to heirs, the financial advisors will not gain those heirs as clients. Instead, the heirs will take their business to another advisor.
A recent study by Cerulli found that the average advisor is over the age of 50. Because the average age of advisors is advanced, a full 33% of financial advisors plan to retire within the next decade. That significant number of retirees is going to leave a noticeable hole for employers. And as of now, most employers are not in a position to fill those gaps.
Bill Soppanish discusses the services customers can expect from Account Managers at Keir Educational Resources. The Account Managers assist managers in making sure that students are ready for their national exams and that they pass on the first try.
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